While no one can state for certain what rates will be tomorrow, let alone weeks or months or years from now, I would suggest that waiting for rates to drop is NOT a good game plan. HIGHEST AND LOWEST RATES SINCE 1970 The highest rate was 18% and that was in 1981. The lowest rate was 3.250% and that was a few days in 2012 Today, July 19, 2018 the best rate is 4.625% RATES DURING U.S. RECESSION PERIODS The lowest rates in a given time period are usually when there is a recession. Look at recession periods since 1970 and average rates: March, 2001 to November 2001, the average rate was about 7%. July, 1990 to March, 1991, the average rate was about 10% 1981 to 1982, the average rate was about 17% January, 1980 to July, 1980, the average rate was about 15% 1973 to 1975, the average rate was about 10% So, while the most recent recession was severe, you could hope for the same thing to happen in the future, however, it is not likely. LOW AND HIGH RATES EACH DECADE FROM 1970 to PRESENT: In the 1970s a low of 7.25% to a high of 13% In the 1980s a low of 9.00% to a high of 18.75% In the 1990s a low of 6.50% to a high of 10.75% In the 2000s a low of 4.75% to a high of 8.625% In the 2010s a low of 3.25% no a high of 5.25% (under 6% since 2008) From the decades above, one can tell the average rate since 1971 is over 6.50%. The rate today is 4.625% If you are thinking of buying, I suggest doing so as soon as possible. Waiting for rates to drop is NOT a good reason to wait. It costs you nothing except a little time to discuss what you might qualify to purchase. Contact me day or evenings or weekends.